Cathie Wood's Ark Invest bought $18.4 million worth of Coinbase stock and sold nearly $29 million worth of Robinhood stock during Wednesday's trading session.
At the close of trading, Coinbase fell 2.57% to $164.92, while Robinhood rose 8.78% to $105.20. Both stocks continue to be major components of the ARKK fund's portfolio, with Robinhood ranking fourth and Coinbase eighth.
Robinhood currently holds 4.87% of the ARKK portfolio, while Coinbase holds 3.71%. The trading indicates that Ark Invest continues to adjust its weighting between the two stocks related to the digital asset market and brokerage.
No further details were provided regarding the reasons for the buying and selling in this session.
